Crypto Bull Run May Have Already Started, One River CEO Says

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Eric Peters – CEO of One River Digital Asset Management – thinks the next crypto bull run will be “very powerful” because it will be driven by institutional adoption.
He argued the market might have already moved to such a phase.
‘Extremely Bullish’ for the Long Term
In a recent appearance on the Bankless podcast, Peters opined that the crypto winter is already in the past, describing last year’s decline to the Wall Street collapse of 1929 (also known as the Great Crash):
“I am grateful that we have navigated this bear market, and it really was kind of 1929 market crash environment.”
Eric Peters, Source: LinkedIn
One River’s exec said he is “extremely bullish” for the medium to long term, believing major institutions will take part in the next cycle:
“I think the next phase will be very powerful because it actually will finally have real institutional adoption.”
Peters suggested the bull run might have begun, outlining the market surge since the beginning of the year. Bitcoin finished 2022 at around $16,500, while as of the moment, it trades at approximately $22,400 (a 35% increase). It even spiked to $25K in February, a valuation last registered in June of 2022.
According to the American, one factor that currently stops institutions from diving into crypto’s ecosystem is the regulatory uncertainty. Once the US, Europe, or Canada impose proper rules, institutional capital should flow toward the industry, while financial companies could integrate blockchain technology into their operations, he claimed.
Peters saw some benefits from the devastating plunge of the cryptocurrency market in 2022 as it gave people vital trading lessons. He recommended future investors jump on the bandwagon only if they are prepared for the volatility and the different cycles. He concluded that those who endure the turbulence will benefit in the long term and understand how the economy generally works.
The Deal With Coinbase
The US-based cryptocurrency exchange – Coinbase – acquired One River Digital Asset Management a few days ago without disclosing the terms and the sum of the agreement. As a result, the latter will be renamed Coinbase Asset Management, while Eric Peters will continue serving as CEO and CIO. 
Greg Tusar – Coinbase’s head of institutional products – said the deal aims to attract more institutional capital into the sector since One River focuses on such customers. 
The two entities partnered in mid-February on a new SMA offering, called ONE Digital SMA, to provide registered investment advisors and private wealth platforms with better crypto exposure and opportunities.
The post Crypto Bull Run May Have Already Started, One River CEO Says appeared first on CryptoPotato.

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